Cookson Peirce & Co. Inc. Purchases Shares of 27,712 Pure Storage, Inc. $PSTG

Cookson Peirce & Co. Inc. acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,712 shares of the technology company’s stock, valued at approximately $2,323,000.

A number of other hedge funds have also modified their holdings of the stock. Winnow Wealth LLC purchased a new stake in shares of Pure Storage during the third quarter valued at $26,000. Assetmark Inc. raised its holdings in Pure Storage by 186.6% during the 3rd quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock worth $29,000 after buying an additional 222 shares during the period. True Wealth Design LLC lifted its stake in Pure Storage by 402.8% during the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after buying an additional 439 shares in the last quarter. SouthState Corp boosted its holdings in shares of Pure Storage by 474.8% in the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after buying an additional 489 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Pure Storage by 40.1% in the third quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Trading Down 6.9%

NYSE PSTG opened at $70.79 on Friday. The company has a market capitalization of $23.37 billion, a PE ratio of 186.30, a price-to-earnings-growth ratio of 5.92 and a beta of 1.27. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The firm’s fifty day simple moving average is $70.23 and its 200-day simple moving average is $76.48.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, December 2nd. The technology company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The firm had revenue of $964.45 million for the quarter, compared to the consensus estimate of $955.60 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSTG. Tigress Financial set a $105.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pure Storage in a research report on Thursday, January 22nd. TD Cowen reiterated a “buy” rating on shares of Pure Storage in a report on Wednesday, December 3rd. JPMorgan Chase & Co. reduced their price objective on Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Finally, Citigroup lowered their target price on Pure Storage from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, December 3rd. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.26.

Insider Buying and Selling

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Pure Storage Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.